AFM131 Lecture Notes - Lecture 10: Pest Analysis, Financial Statement, Problem Solving

• School: University of Waterloo
• Department: Accounting & Financial Management
• Course: AFM131
• Professor: Bob Sproule

Document Summary

Managers get things done using scarce human, natural and inancial resources. Managers used to be the boss 9they knew more and were more proicient than employees) to the coach (to guide, train, support, moivate geing the best out of employees) uilizing teamwork and co-operaion. Long-term employment with one irm no longer the norm so building trust is an important issue. Change in a business now comes more quickly. Managers need to be more transparent in how they do their job as their teams will contribute to the manager"s evaluaion. Funcions of management: (see figure 8. 1 on page 239) Planning anicipaing trends determining strategies give direcion provide leadership to accomplish organizaional goals all to please customers. Working together to achieve organizaional goals to please the customer at a proit. Moivaing to empower employees (to become self-directed and self-moivated) keep them focused this funcion used to be called direcing, however today knowledge workers should know best how to do their job.